Charity welcomes 30-day debt rule

New measures that have been introduced to allow borrowers a 30-day reprieve from creditors if they seek debt help have been welcomed by an industry body.

Frances Walker, a spokesperson for the Consumer Credit Counselling Service, said that the move could encourage people to obtain debt advice.

The decision, outlined by the government and the Credit Service Association, means that debt collectors will not be able to chase those in the red for 30 days if an accredited advisor has been recruited to aid them with their problems.

Ms Walker remarked that this may help prevent borrowers being harassed by agencies, which she noted can add to the “whole stress of the debt situation”.

She added that 30 days “should certainly be enough to have sought advice and for them to be clear about what their options are”.

Commenting on the new rules, consumer minster Gareth Thomas stated that it will give individuals “breathing space” to try and sort out their finances.

By Jamie Price